|
Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ SOUTH AFRICA (PTY)LTD |
|
|
|
|
Formerly Known As : |
RAP IDOL |
|
|
|
|
Registered Office : |
11 Young Road, Pinetown, 3610 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
31.03.2006 |
|
|
|
|
Com. Reg. No.: |
M2006/009711107 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Subject is involved in the manufacturing of hair dye products and hair
weaves under the INECTO and KINKY HAIR in house brand names. |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Africa ECONOMIC OVERVIEW
South Africa is a middle-income,
emerging market with an abundant supply of natural resources; well-developed
financial, legal, communications, energy, and transport sectors and a stock
exchange that is the 15th largest in the world. Even though the country
possesses modern infrastructure that support a relatively efficient
distribution of goods to major urban centers throughout the region, some
components retard growth. The economy began to slow in the second half of 2007
due to an electricity crisis. State power supplier Eskom encountered problems
with aging plants and meeting electricity demand necessitating
"load-shedding" cuts in 2007 and 2008 to residents and businesses in
the major cities. Subsequently, the global financial crisis reduced commodity
prices and world demand. GDP fell nearly 2% in 2009 but has recovered since
then. Unemployment, poverty, and inequality remain a challenge, with official
unemployment at nearly 25% of the work force. State power supplier Eskom has
built two new power stations and installed new power demand management programs
to improve power grid reliability. South Africa's economic policy has focused
on controlling inflation, however, the country has had significant budget
deficits that restrict its ability to deal with pressing economic problems. The
current government faces growing pressure from special interest groups to use
state-owned enterprises to deliver basic services to low-income areas and to
increase job growth.
|
Source
: CIA |
Subject Name |
GODREJ SOUTH AFRICA (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
KANNIE MOODLEY - HUMAN RESOURCE MANAGER |
|
Assessment |
This is a well-established family business. On investigation, contact was made with KANNIE MOODLEY the HUMAN RESOURCE MANAGER of the company. The subject was originally established in 1955 as RAPIDOL (PTY)LTD, the company was later taken over by GODREJ INDUSTRIAL LIMITED and registered in SOUTH AFRICA as a subsidiary namely GODREJ SOUTH AFRICA (PTY)LTD. No adverse information was revealed during the investigation. All commitments are met timeously with suppliers. A bank code could not be obtained as the banking details were not made available. Please see the information obtained below . |
|
Registered Name |
GODREJ SOUTH AFRICA (PTY)LTD |
|
Trading as/ Division Name |
GCPL |
|
Previous Name |
RAP IDOL |
|
Date of Name Change |
Jul 18 2012 12:00AM |
|
Registration Number |
M2006/009711107 |
|
Registration Date |
2006/03/31 |
|
Date Commenced Trading |
March 2006 |
|
Age of Business |
7 Years 2 Months |
|
History of Business |
GODREJ CONSUMER PRODUCTS LTD (GCPL) is a
prominent Hair Colour Brand in India and a significant player in other FMCG
categories like beauty soaps and toiletries. GCPL acquired RAPIDOL (PTY) LTD
in September 2006. RAPIDOL is the proprietor of the INECTO BRAND since 1955.
INECTO currently holds a 92% market share of ethnic hair colour market in
South Africa. Currently INECTO is available in 17 African Markets via
specialist sales and distribution agents. The other products included are
Renew Hair Colour, Soflene and Rapid No.1. In April 2008, GCPL acquired KINKY
GROUP (PTY) LTD. Kinky hair has been supplying human hair, synthetic wefted
pieces, wigs, add ons, hair extensions and hair braids to South African
consumers since 1971. It has 28 stores across Gauteng, KZN, Eastern Cape and
Western Cape. KINKY operates through retail and whole sale model of
distribution. KINKY is the most trusted brand amongst consumers for dry hair
care. December 2010, Kinky Group (Pty) Ltd merged with Rapidol (Pty) and the
combined entities were named as Rapidol (Pty) Ltd. |
|
History of Principals |
There are currently six active directors |
|
Shareholders/Members/Partners of subject and % holding |
100 % - GODREJ INDUSTRIES LIMITED |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
The company is
involved in the manufacturing of hair dye products and hair weaves under the
INECTO and KINKY HAIR in house brand names. |
|
Industry/ Customers |
Cosmetic |
|
Export |
None |
|
Import |
Yes |
|
Major Industry Code / SICC |
99023 |
|
Definition of Code |
Men's and ladies' hairdressing |
|
Head Office Physical Address |
11 YOUNG ROAD, PINETOWN, 3610 |
|
Head Office Postal Address |
P O BOX 10331, ASHWOOD, 3605 |
|
Current Tel Number |
0317101150 |
|
Current Fax Number |
0317106128 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
PKF(DURBAN)INC |
|
Trading Name |
PKF(DURBAN) |
|
Registration Number |
2001/006100/21 |
|
Physical Address |
2nd Floor, 12 on Palm Boulevard, GATEWAY |
|
Postal Address |
PO Box 1858, Durban, 4000 |
|
Contact Person |
Unavailable |
|
Contact Number |
0315735000 |
|
Email |
|
|
Principals |
15 |
|
Judgements Against Subject |
No information found on file |
|
Judgements Against Principals |
No information found on file |
|
Subject Verified as Client |
No |
|
Practice Number |
906352E |
|
VAT Number |
4450223450 |
|
Tax Number |
9049294144 |
|
BEE Status |
Level 6 |
|
Financial Year End |
February |
|
No of years in Business |
7 |
|
Website |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
AAALHERBE LOURENS |
|
Unknown |
|
|
Vat Number |
4690230034 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2006/09/01 |
|
Tax Number |
9060501179 |
|
Tax Clearance Expire Date |
|
|
Financial Year End |
March |
|
Status |
Yes |
|
Score |
6.00 |
|
Expire Date |
|
|
BEE Certificate Available |
No |
|
Comment |
Level 8 BEE Contributor |
|
Type of ISO Grade |
ISO 27001, ISO 9001, ISO 14001 & OHSAS -18001 |
|
ISO Certificate |
Yes |
|
ISO Certificate Available |
No |
|
Certified by an Accredited Agent |
Yes |
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary Company |
There are no reported subsidiaries |
|||
|
Employees |
||||
|
Number of Employees |
40 |
|||
|
1. Salaried employees |
40 |
|||
|
2. Waged employees |
|
|||
|
3. Permanent employees |
40 |
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
4 |
|||
|
Comment |
The Sales Representatives use the
company's vehicles |
|||
|
Light delivery Vehicles |
3 |
Owned |
|
|
|
Cars |
1 |
Owned |
|
|
|
Offices |
Offices |
|||
|
Head Office Owned/ Rented |
Owned |
|||
|
Rental Company |
|
|||
|
Owned by |
GODREJ SOUTH AFRICA (PTY)LTD |
|||
|
Value |
|
|||
|
Bond |
R0.00 |
|||
|
Bank |
|
|||
|
Lease Agreement |
None |
|||
|
Lease Expire Date |
None |
|||
|
Type of Premises |
Office and Factory |
|||
Branch Information - No Information on Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
PRESIDENT OF INTERNATIONAL BUSINESS |
SHASHANK SINHA |
|
|
|
|||
|
2 |
AAANAGING DIRECTOR FOR GODREJ CONSUMER PRODUCTS LTD |
MAHENDRAN ARUMUGHAM |
|
|
|
|||
|
3 |
DIRECTOR AND CEO |
KEITH HARRISON |
|
|
|
|||
|
4 |
DIRECTOR |
NADIR BURJOR GODREJ |
|
Company Structure (Ownership)
Note: One level
up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% - GODREJ
INDUSTRIES LIMITED |
GODREJ SOUTH AFRICA (PTY) LTD |
|
|
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
2 |
EXPEDITORS |
0319028061 |
|
|
|
|
1 |
PINETOWN
PRINTERS (PTY) LTD |
0317018019 |
|
|
|
|
3 |
P G PACKAGING CC |
0317020418 |
|
|
|
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2 |
|
|
|
|
|
|
Against company
policy to provide trade references |
|
1 |
5 Years |
|
R 20000 |
30 Days |
R10000 |
30 Days |
No credit limit,
Good account |
|
3 |
11 Years |
|
R 50000 |
30 Days |
R 45000 |
30 Days |
No credit limit,
No discounts, Good account |
Judgements
|
Judgements |
None |
|
Possible Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
|
Comment |
No Information on Record |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
|
|
There is no
information found on file |
No Information on Record |
No Information
on Record |
No Information on Record |
Default Listings
|
Date |
Details |
Comment |
|
|
There is no information found on file |
No Information on Record |
|
Notarial Bonds |
||
|
Date |
Details |
Comment |
|
|
There is no information found on file |
No Information on Record |
Bank Information - No Information on Record
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Property Interests for Company GODREJ SOUTH AFRICA (PTY)LTD
|
Title Deed No. |
T46405/2006 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
11 YOUNG NEW GERMANY PINETOWN |
|
Property Type |
Freehold |
Extent / Size |
4050.0SQM |
|
Purchase Date |
2006/07/03 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
Attached kindly find the Statement of Consolidated Unaudited Results
for the quarter ended June 30, 2012 |
|
Please note the following: |
|
|
Turnover and assets less than R
1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R
2,000,000.00 |
The subject falls within the Consumer Protection Act |
|
Number of Principals |
6 |
|
Average Age of Active Principals |
56 |
Active Principals
Principal - 1of 6 SHASHANK SINHA
|
Surname |
SINHA |
|
First Name |
SHASHANK |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
Z2182942 |
|
Verified ID Number |
Yes |
|
Current Age |
49 |
|
Designation |
President Of International Business |
|
Status |
Active |
|
Appointment Date |
2012/10/02 |
|
Physical Address (at time of Appointment) |
905-A THE ARALIAS, DLF GOLF LINKS
GURGAON-122002, HARYANA INDIA, 0000 |
|
Postal Address |
GODREJ CONSUMER PRODUCTS LTD, PIROJSHANAGAR, PIROJSHANAGAR, EASTERN
EXPRESS HIGHWAY, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for SHASHANK SINHA
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SOUTH AFRICA (PTY)LTD |
M2006/009711107 |
In Business |
7 Years 2 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2of 6
MAHENDRAN ARUMUGHAM
|
Surname |
ARUMUGHAM |
|
First Name |
MAHENDRAN |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
5504130000000 |
|
Verified ID Number |
Yes |
|
Current Age |
58 |
|
Designation |
Managing Director |
|
Status |
Active |
|
Appointment Date |
2010/07/01 |
|
Physical Address (at time of Appointment) |
OLD NO 93 NEW NO 14,
POES GARDEN, GOPALAPURAM, CHENNAAI
600 086 TAMILNADU, 0000 |
|
Postal Address |
P 0 BOX 129, NEW GERMANY, 3620 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Deeds
Information - No information on record
Business Information
for MAHENDRAN ARUMUGHAM
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SOUTH AFRICA (PTY)LTD |
M2006/009711107 |
In Business |
7 Years 2 Months |
0 |
No |
|
|
KINKY GROUP (PTY) LTD |
M2008/000288/07 |
In Business |
5 Years 4 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 12 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SARA LEE LIMITED INCORPORATED IN INDIA |
M2001/008234/10 |
Deregistration Final |
12 Years 1 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 3of 6
KEITH HARRISON
|
Surname |
HARRISON |
|
First Name |
KEITH |
|
Other Names |
None |
|
Marital Status |
Single |
|
ID Number |
5804035120088 |
|
Verified ID Number |
Yes |
|
Current Age |
55 |
|
Designation |
Director and CEO |
|
Status |
Active |
|
Appointment Date |
2006/09/01 |
|
Physical Address (at time of Appointment) |
48 ROBYN STREET, JUKSKEI PARK, JOHANNESBURG, 2001 |
|
Postal Address |
P 0 BOX 3931, RANSBURG, 2125 |
|
Current Tel Number |
0317101156 |
|
Cell number |
0823376070 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for KEITH HARRISON
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SOUTH AFRICA (PTY)LTD |
M2006/009711107 |
In Business |
7 Years 2 Months |
0 |
No |
|
|
KINKY GROUP (PTY) LTD |
M2008/000288/07 |
In Business |
5 Years 4 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 60 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
PHYLLIS EARLE LIMITED |
M1952/000018/10 |
Deregistration Final |
60 Years 11 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 4of 6
NADIR GODREJ
|
Surname |
GODREJ |
|
First Name |
NADIR |
|
Other Names |
BURJOR |
|
Marital Status |
|
|
ID Number |
5108260000000 |
|
Verified ID Number |
Yes |
|
Current Age |
62 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006/09/01 |
|
Physical Address (at time of Appointment) |
40 D BEKHERMARG 2ND FLOOR, MASABAR HILL, MUMBAI 6, 0000 |
|
Postal Address |
40 D BEKHERMARG 2ND FLOOR, MASABAR HILL, MUMBAI 6, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for NADIR GODREJ
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SOUTH AFRICA (PTY)LTD |
M2006/009711107 |
In Business |
7 Years 2 Months |
0 |
No |
|
Principal's Deeds Information - No
information on record
Principal - 5of 6 ADI
GODREJ
|
Surname |
GODREJ |
|
First Name |
ADI |
|
Other Names |
BURJOR |
|
Marital Status |
|
|
ID Number |
4204030000000 |
|
Verified ID Number |
Yes |
|
Current Age |
71 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006/09/01 |
|
Physical Address (at time of Appointment) |
AASHRAYE GODREJ HOUSE, 67TH WALKESHWAR ROAD, MUMBAI 6, INDIA, 0000 |
|
Postal Address |
AASHRAYE GODREJ HOUSE, 67TH WALKESHWAR ROAD, MUMBAI 6, INDIA, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information for ADI GODREJ
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SOUTH AFRICA (PTY)LTD |
M2006/009711107 |
In Business |
7 Years 2 Months |
0 |
No |
|
|
KINKY GROUP (PTY) LTD |
M2008/000288/07 |
In Business |
5 Years 4 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 6of 6
TANYA DUBASH
|
Surname |
DUBASH |
|
First Name |
TANYA |
|
Other Names |
ARVIND |
|
Marital Status |
|
|
ID Number |
6809140000000 |
|
Verified ID Number |
Yes |
|
Current Age |
45 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006/09/01 |
|
Physical Address (at time of Appointment) |
89 BHULABHAI, DESAI ROAD, MUMBAI
79, INDIA, 0000 |
|
Postal Address |
89 BHULABHAI, DESAI ROAD, MUMBAI
79, INDIA, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Business Information for TANYA DUBASH
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GODREJ SOUTH AFRICA (PTY)LTD |
M2006/009711107 |
In Business |
7 Years 2 Months |
0 |
No |
|
|
KINKY GROUP (PTY) LTD |
M2008/000288/07 |
In Business |
5 Years 4 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.64 |
|
UK Pound |
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.